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VIC NYC : Steve Tananbaum likes Liberty Global and Belo
Submitted by admin on Fri, 11/30/2007 - 11:20
Steve Tananbaum, GoldenTree Asset Mgm, just told the audience at the Value Investing Congress he likes Liberty Global (Nasdaq: LBTYA). LBTYA at 36.50 equates to 7.0x 2008E EBITDA Business growing EBITDA 15% annually. Stock at discount to underlying NAV; growing NAV 30% annually. 8x 2008E EBITDA with buybacks = $50 (+37%)
Cash flow growing at 15%
Liberty Global, Inc. (LGI) is an international broadband communications provider of video, voice and Internet access services.
Steve Tananbaum also thinks that Belo (NYSE: BLC) should be trading above 20. He says Belo is getting to the point where the credit markets would finance 100% of the transaction to buy Belo.
Belo is a media company with a diversified group of television broadcasting and newspaper publishing operations, including interactive media and cable news operations.
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